How to create ragnarok online style bouncing damage text

Hi

I’m in the process of creating a ragnarok online style game, and I would like to know how to create bouncing damage style text. I find this effect in multiple games and would like to implement it in my own. I added a youtube link to show the effect I’m looking for. Any advice greatly appreciated. If possible it would be great if the solution would use actionscript 3.0 and bitmapData instead of vector graphics to optimize speed.

PS : notice how damage text both scales and fades over time.

Thanking you in advance